Statutory Accounts Preparation — Year-End Made Simple
Professional, compliant year-end accounts for sole traders and limited companies. File with confidence.
What Are Statutory Accounts?
Statutory accounts are the formal financial statements your business must prepare at year-end. They show your profit/loss, balance sheet position, and cash flow. For limited companies, these documents are filed publicly with Companies House. For sole traders, they support your self-assessment tax return.
These accounts must comply with accounting standards and company law. They provide stakeholders, HMRC, and the public (for companies) with a clear picture of your financial health and trading performance.
Why Statutory Accounts Matter
Legal Requirement
Required by law for all companies and businesses above certain thresholds
Tax Compliance
Form the basis of your corporation tax return or self-assessment submission
Stakeholder Confidence
Banks, investors, and partners expect certified, credible financial statements
Audit Trail
Professional accounts provide clear evidence for HMRC or regulatory inquiries
The Year-End Accounts Process
1. Information Gathering
We collect all records needed: trial balance, invoices, receipts, bank statements, payroll information, and any adjustments.
2. Draft Preparation
We prepare draft accounts showing all transactions, adjustments, and year-end items. We liaise with you on any queries.
3. Review & Adjustment
Final review for completeness, accuracy, and compliance. We make adjustments and ensure all requirements are met.
4. Filing & Delivery
Finalised accounts prepared for signing. We coordinate filing with Companies House or HMRC as required.
Sole Trader Accounts vs Limited Company Accounts
Sole Traders
Accounts Format
Simplified accounts showing profit/loss and key expenses. Attached to self-assessment tax return.
Filing Requirements
File by 31st January following the tax year via Self Assessment. No public filing required.
What's Included
- • Turnover and business expenses
- • Profit or loss calculation
- • Capital allowances
- • Tax summary with our recommendations
Timeframe
2-3 weeks after providing records
Limited Companies
Accounts Format
Full or abbreviated statutory accounts depending on size. Filed publicly with Companies House and HMRC.
Filing Requirements
File within 9 months of year-end with Companies House. Corporation tax return filed separately.
What's Included
- • Profit & loss statement
- • Balance sheet (assets, liabilities, equity)
- • Cash flow statement
- • Notes and disclosures (detail varies)
- • Director/audit certifications
Timeframe
3-4 weeks after providing records
Filing Deadlines & Important Dates
Sole Traders (Self Assessment)
Return Filing Deadline
31st January following the tax year
Tax Payment Due
31st January for prior year; payments on account Jan/Jul
Record Retention
Keep records for 6 years from year-end
Limited Companies
Companies House Filing
Within 9 months of year-end (or 12 months if extended)
Corporation Tax Return
12 months from end of accounting period
Tax Payment Due
9 months after year-end (Q1-Q3 payments may apply)
We manage all deadlines and remind you well in advance. No filing penalties on our watch.
What's Included in Our Statutory Accounts Service
Complete Preparation
Draft and final accounts prepared to UK accounting standards with full compliance checks.
Year-End Adjustments
Accruals, prepayments, depreciation, bad debts, and all standard adjustments calculated.
Tax Advisory
Summary of tax liabilities, recommendations for planning, and guidance on payments.
Filing Coordination
We liaise with regulators, coordinate with other advisors, and handle all filing logistics.
Director Sign-Off Support
Guidance on director responsibilities and certifications; we prepare all sign-off documentation.
Ongoing Support
Questions during the year? We're here to advise on accounting, tax, and compliance matters.
Statutory Accounts Questions
Get answers to common questions about preparing your year-end accounts.
Related Services
Record Keeping & Reconciliation
Monthly bookkeeping and reconciliation to ensure your accounts are ready for year-end.
Bookkeeping Services
Complete bookkeeping and business accounting support throughout the year.
Book a Consultation
Discuss your accounting needs and let us prepare your next set of statutory accounts.
Ready for Professional Year-End Accounts?
Get your statutory accounts prepared by experienced professionals. Compliant, accurate, and filed on time. Let's take the year-end stress away.